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Gold Future ($GC_F) March Bear Risk to 1132, Then 1100 and 1045!!

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Gold Future ($GC_F) March Bear Risk to 1132, Then 1100 and 1045!!

The Friday plunge through 1168, the 2015 low has been reinforced by probes still lower this week through minor supports .

The lackluster Monday bounce, capped by 1174/79 leaves the focus on support and for a further bear extension.

Short-term Outlook - Downside Risks

  • We see a more negative tone with the bearish threat through the new 1146 low.
  • Below here sees March risk to 1143 and maybe 1132, the 2014 cycle low.
  • Growing threat into April, is for a break below 1132 for 1100 and longer term support at 1045. 
To view today's full Gold report with screencasts, click here
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Daily Gold Future Chart (April 205 Contract)


Monthly Gold Future Chart (April 205 Contract)



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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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